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Keywords: West Bank

  • ECONOMICS

    Why debt forgiveness may be inevitable

    • David James
    • 25 July 2022
    3 Comments

    Monetary authorities are caught in an impossible situation. Inflation is rising: it is over 5 per cent in Australia and over 9 per cent in the United States. Inflation is often seen as a way out of excessive debt because it erodes the real value of money and therefore the real value of the debt. But what is increasingly being discussed are ways to cancel the debt.

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  • ECONOMICS

    Rising interest rates point to a larger problem

    • David James
    • 28 June 2022
    1 Comment

    The question that should be posed is how effective has the Reserve Bank been at ‘managing’ the economy and financial system? ‘Not very’, has to be the answer. Not that the RBA is alone. The same pattern has been seen across the developed world. Central banks have one weapon at their disposal, the cost of money (the interest rate), and there is not much evidence they have used this tool to make their systems sustainable. Mostly, they have made matters worse. 

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  • ECONOMICS

    Can financial fictions survive reality?

    • David James
    • 31 May 2022
    2 Comments

    As commodity prices and inflation soar in the ‘real’ world we may be witnessing a prelude to another 2008-style crisis triggered by the foreign exchange markets. The risks certainly look similar and can be described with a simple question. Can the fictions produced by out-of-control financial actors survive reality? 

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  • ECONOMICS

    How will Russia sanctions impact the global economy?

    • David James
    • 22 March 2022
    1 Comment

    Russia’s invasion of Ukraine has led to severe financial sanctions being imposed on the country that are likely to have lasting consequences. Problem is, they may not be the ones the sanctioners are expecting. They may even come to regret what they have done.

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  • ECONOMICS

    What will rising interest rates mean for wealth inequality?

    • David James
    • 01 March 2022
    3 Comments

    Australia’s Reserve Bank mainly concentrates on keeping inflation within an acceptable range and maintaining a high level of employment. Social equity has never been considered to be part of its mandate. It should be. Interest rates have been the biggest cause of economic and social division in Australia, not just between rich and poor, but also between older and younger generations. 

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  • AUSTRALIA

    Betting on the future of Australia’s gambling addiction

    • Frank Hurley
    • 24 February 2022
    1 Comment

    Gambling is now a core national industry providing significant employment, profit for private providers and revenue for governments. All good but, as with every form of industry, there are ‘externalities’. In the case of the gambling industry, it is the personal and social costs of ‘problem’ or ‘addicted’ gamblers that must be taken into account. 

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  • AUSTRALIA

    Juvenile injustice

    • Julian Butler
    • 22 February 2022
    4 Comments

    Having previously spent time as lawyer working predominantly in the Children’s Court of Victoria, there isn’t too much about the State’s treatment of young people that shocks me. That is, until a few weeks ago when I was drawn to the final item of The Weekend Australian’s editorial column. Under the heading, ‘Hurt boy’s inhuman treatment’, was set out the details of a 15-year-old West Australian boy who had been ‘locked alone in a glass-walled observation cell of a juvenile detention centre in the southern suburbs of Perth for 79 days.’    

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  • AUSTRALIA

    The unequal pandemic

    • Brigid Meney
    • 31 January 2022
    13 Comments

    When COVID-19 first arrived, it was described as the great equaliser. Infection could happen to anyone. Your race, creed, or the balance of your bank account didn’t matter to the virus that was spreading. But after a summer of dodging the virus and hunting for rapid tests, it is abundantly clear this isn’t a pandemic of equals. Now we have the data which quantifiably measures just how Australia's socio-economic fault lines were exposed and exacerbated by COVID-19.

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  • ECONOMICS

    The rise of the machines

    • David James
    • 31 January 2022
    5 Comments

    There is a great deal of commentary about the growing importance of artificial intelligence, or AI, especially in business circles. To some extent this is a self-fulfilling prophecy — if people think something will have a seminal effect then it probably will. But if the supposed commercial benefits are significant, the dangers are potentially enormous.

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  • ARTS AND CULTURE

    Wipeout

    • Les Wicks
    • 22 November 2021

    The largest wave is friendship. / Heard stories about seamlessness / that sleepy beast of an upsurge that carries you in / until your fin cuts a channel in the sand. / There are dumpers that leave you gasping. / Will & persistence, how a cold current / can race to your head.

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  • INTERNATIONAL

    In the shadow of SIEV-X

    • Binoy Kampmark
    • 01 November 2021
    27 Comments

    Two decades ago, an Indonesian vessel given the name SIEV X sank with loss of life that should have caused a flood of tears and a surge of compassion. Instead of being seen in humanitarian terms, the deaths of 353 people became a form of rich political capital, placed in the bank of opportunism to be amortised at a federal election.

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  • ARTS AND CULTURE

    Climactic events in Royal Park

    • Andrew Hamilton
    • 26 October 2021
    2 Comments

    These weekday mornings all is quiet. / I stroll across the highway, / a piddle of cars in the outbound lane, / a puddle at the distant lights. / Along the parkland trail / cowled figures walk alone, / measuring their distance. / From the rise above the railway cutting / Macedon stands burly in the smoke-free air.

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